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CUS1.L vs. SWDA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CUS1.L vs. SWDA.L

Last updated Jun 5, 2026

CUS1.L (iShares MSCI USA Small Cap ESG Enhanced UCITS ETF (Acc)) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - CUS1.L is a Small Cap Blend Equities fund tracking the Russell 2000 TR USD, while SWDA.L is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, CUS1.L returned 11.83%/yr vs 13.91%/yr for SWDA.L. A 0.76 correlation means they provide meaningful diversification when combined. CUS1.L charges 0.43%/yr vs 0.20%/yr for SWDA.L.

Performance

CUS1.L vs. SWDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI USA Small Cap ESG Enhanced UCITS ETF (Acc) (CUS1.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, CUS1.L achieves a 15.99% return, which is significantly higher than SWDA.L's 10.08% return. Over the past 10 years, CUS1.L has underperformed SWDA.L with an annualized return of 11.83%, while SWDA.L has yielded a comparatively higher 13.91% annualized return.

CUS1.L

1D
1.06%
1M
4.90%
YTD
15.99%
6M
15.37%
1Y
35.71%
3Y*
13.68%
5Y*
7.82%
10Y*
11.83%

SWDA.L

1D
0.15%
1M
5.12%
YTD
10.08%
6M
10.35%
1Y
27.25%
3Y*
17.68%
5Y*
13.06%
10Y*
13.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CUS1.L vs. SWDA.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CUS1.L
iShares MSCI USA Small Cap ESG Enhanced UCITS ETF (Acc)		15.99%2.68%11.54%11.30%-7.26%19.95%14.64%22.34%-6.43%6.42%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		10.08%12.64%21.11%17.59%-8.33%23.64%12.25%23.03%-3.78%11.78%

Correlation

The correlation between CUS1.L and SWDA.L is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.75

Correlation (3Y)
Calculated over the trailing 3-year period

0.75

Correlation (5Y)
Calculated over the trailing 5-year period

0.79

Correlation (10Y)
Calculated over the trailing 10-year period

0.82

Correlation (All Time)
Calculated using the full available price history since Sep 16, 2010

0.76

The correlation between CUS1.L and SWDA.L has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.

CUS1.L vs. SWDA.L - Sectors Allocation Comparison

Sectors
CUS1.L
SWDA.L

Industrials

19.6%
10.9%

Technology

16.8%
30.0%

Financial Services

15.1%
15.4%

Healthcare

12.6%
8.7%

Consumer Cyclical

10.5%
9.0%

Real Estate

7.0%
1.8%

Energy

5.6%
4.2%

Consumer Defensive

3.9%
5.2%

Basic Materials

3.9%
3.2%

Utilities

2.7%
2.5%

Communication Services

2.5%
9.2%

Industrials

CUS1.L
19.6%
SWDA.L
10.9%

Technology

CUS1.L
16.8%
SWDA.L
30.0%

Financial Services

CUS1.L
15.1%
SWDA.L
15.4%

Healthcare

CUS1.L
12.6%
SWDA.L
8.7%

Consumer Cyclical

CUS1.L
10.5%
SWDA.L
9.0%

Real Estate

CUS1.L
7.0%
SWDA.L
1.8%

Energy

CUS1.L
5.6%
SWDA.L
4.2%

Consumer Defensive

CUS1.L
3.9%
SWDA.L
5.2%

Basic Materials

CUS1.L
3.9%
SWDA.L
3.2%

Utilities

CUS1.L
2.7%
SWDA.L
2.5%

Communication Services

CUS1.L
2.5%
SWDA.L
9.2%

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iShares MSCI USA Small Cap ESG Enhanced UCITS ETF (Acc)

iShares Core MSCI World UCITS ETF USD (Acc)

Often compared with CUS1.L:
CUS1.L vs. WLDS.LCUS1.L vs. AVUVCUS1.L vs. R2SC.LCUS1.L vs. CSPX.LCUS1.L vs. AMZNCUS1.L vs. USSC.LCUS1.L vs. VIOG
Often compared with SWDA.L:
SWDA.L vs. IWDA.LSWDA.L vs. VWRP.LSWDA.L vs. VWCE.DESWDA.L vs. SPYSWDA.L vs. IUSQ.DESWDA.L vs. EUN.LSWDA.L vs. VOO

Return for Risk

CUS1.L vs. SWDA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CUS1.L
CUS1.L Risk / Return Rank: 7878
Overall Rank
CUS1.L Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
CUS1.L Sortino Ratio Rank: 7373
Sortino Ratio Rank
CUS1.L Omega Ratio Rank: 7070
Omega Ratio Rank
CUS1.L Calmar Ratio Rank: 9090
Calmar Ratio Rank
CUS1.L Martin Ratio Rank: 8484
Martin Ratio Rank
SWDA.L
SWDA.L Risk / Return Rank: 8383
Overall Rank
SWDA.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
SWDA.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
SWDA.L Omega Ratio Rank: 8484
Omega Ratio Rank
SWDA.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
SWDA.L Martin Ratio Rank: 8383
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CUS1.L vs. SWDA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Small Cap ESG Enhanced UCITS ETF (Acc) (CUS1.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

CUS1.LSWDA.LDifference
Sharpe ratioReturn per unit of total volatility
2.40
2.66

-0.26

Sortino ratioReturn per unit of downside risk
3.25
3.69

-0.45

Omega ratioGain probability vs. loss probability

1.41

1.51

-0.09

Calmar ratioReturn relative to maximum drawdown

5.52

4.14

+1.38

Martin ratioReturn relative to average drawdown

17.02

16.55

+0.46

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CUS1.L vs. SWDA.L - Sharpe Ratio Comparison

The current CUS1.L Sharpe Ratio is 2.40, which is comparable to the SWDA.L Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of CUS1.L and SWDA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CUS1.LSWDA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.40

2.66

-0.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.41

0.98

-0.57

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.60

0.96

-0.35

Sharpe Ratio (All Time)

Calculated using the full available price history

0.71

0.88

-0.17

Drawdowns

CUS1.L vs. SWDA.L - Drawdown Comparison

The maximum CUS1.L drawdown since its inception was -35.26%, which is greater than SWDA.L's maximum drawdown of -25.58%. Use the drawdown chart below to compare losses from any high point for CUS1.L and SWDA.L.

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Drawdown Indicators

CUS1.LSWDA.LDifference

Max Drawdown

Largest peak-to-trough decline

-35.26%

-25.58%

-9.68%

Max Drawdown (1Y)

Largest decline over 1 year

-6.44%

-6.55%

+0.11%

Max Drawdown (3Y)

Largest decline over 3 years

-28.89%

-18.50%

-10.39%

Max Drawdown (5Y)

Largest decline over 5 years

-28.89%

-18.50%

-10.39%

Max Drawdown (10Y)

Largest decline over 10 years

-35.26%

-25.58%

-9.68%

Current Drawdown

Current decline from peak

0.00%

-0.10%

+0.10%

Average Drawdown

Average peak-to-trough decline

-6.38%

-3.49%

-2.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.09%

1.64%

+0.45%

Volatility

CUS1.L vs. SWDA.L - Volatility Comparison

iShares MSCI USA Small Cap ESG Enhanced UCITS ETF (Acc) (CUS1.L) has a higher volatility of 3.89% compared to iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) at 2.52%. This indicates that CUS1.L's price experiences larger fluctuations and is considered to be riskier than SWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CUS1.LSWDA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.89%

2.52%

+1.37%

Volatility (6M)

Calculated over the trailing 6-month period

9.97%

7.29%

+2.68%

Volatility (1Y)

Calculated over the trailing 1-year period

14.81%

10.19%

+4.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.85%

13.30%

+5.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.56%

14.50%

+5.06%

CUS1.L vs. SWDA.L - Expense Ratio Comparison

CUS1.L has a 0.43% expense ratio, which is higher than SWDA.L's 0.20% expense ratio.

Dividends

CUS1.L vs. SWDA.L - Dividend Comparison

Neither CUS1.L nor SWDA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

CUS1.L and SWDA.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SWDA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SWDA.L is cheaper with a 0.20% expense ratio, compared with 0.43% for CUS1.L.

CUS1.L is categorized as Small Cap Blend Equities, while SWDA.L is Global Equities. CUS1.L tracks Russell 2000 TR USD, while SWDA.L tracks MSCI World Index. Their fees differ too: 0.43% for CUS1.L and 0.20% for SWDA.L.

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